The week of January 5th to January 11th features a lineup of significant financial events, all times are in Beijing Time. Key focuses for the upcoming week include: On the macroeconomic front, China will release a dense set of December data including CPI, PPI, and financial figures, while the US December non-farm payrolls report will be unveiled. On the technology frontier, the "Tech Super Bowl," the CES exhibition, will run from January 4th to 9th in Las Vegas. Numerous tech giants, including NVIDIA CEO Jensen Huang and AMD's leader Lisa Su, are scheduled to attend. In capital markets, several Chinese and Hong Kong tech firms such as KNOWLEDGE ATLAS, MiniMax, Jingfeng Medical, Tianshu Zhixin, and GigaDevice are set to proceed with IPOs, with KNOWLEDGE ATLAS and MiniMax commencing trading imminently. Simultaneously, South Korean President Lee Jae-myung will make his first official visit to China, aiming to strengthen Sino-Korean economic and trade cooperation. On the political events front, Venezuelan President Nicolás Maduro may stand trial in a US court, and Ukrainian President Volodymyr Zelenskyy is set to hold a new round of talks with the United States, making international geopolitical dynamics also crucial to watch. The annual weight rebalancing of the Bloomberg Commodity Index, particularly the warning of "technical selling" for gold and silver, will also impact the global commodities market. Economic Indicators

China's December CPI and PPI

On Friday, January 9th, China will release its December CPI and PPI data. Zheshang Securities anticipates the year-on-year CPI growth rate to hold steady at 0.7%, unchanged from the previous month, with the month-on-month rate potentially turning from negative to flat; the year-on-year decline in PPI is expected to narrow to -1.9%, compared to -2.2% previously. Pork and oil prices continued their downward trend this month, while core CPI might sustain its recovery. Industrially, the inventory cycle is unlikely to provide effective support for prices, and the capacity clearance in midstream manufacturing may require a longer period.

China's January-December Financial Data: Total Social Financing, RMB Loans, etc.

Next week, China's December financial data will be announced, likely after January 9th. Zheshang Securities forecasts new RMB loans of approximately 900 billion yuan and a total social financing increment of about 2.2 trillion yuan for December, although both may show a year-on-year decrease; the growth rate of broad money supply M2 might experience a slight dip.

US December Non-Farm Payrolls Data

On Friday, January 9th, the US will release its December non-farm payrolls report. Current market expectations are for an increase of around 55,000 jobs, with the unemployment rate holding at 4.6%. Bloomberg Economics offers a more optimistic forecast, predicting job growth of 80,000. A key aspect of this data will be the contradictory phenomenon of job growth coexisting with high unemployment. The report's outcome will directly influence market judgments regarding economic resilience and the Federal Reserve's policy path. Financial Events

The "Tech Super Bowl" International Consumer Electronics Show runs from the 4th to the 9th, featuring speeches by Jensen Huang, Lisa Su, and others.

The annual "Tech Super Bowl" – the 2026 Consumer Electronics Show (CES) – will be held from January 4th to 9th in Las Vegas, USA. CES is always a key stage for tech companies to unveil their annual new products, showcasing everything from soon-to-be-released items to conceptual devices that may not yet be headed for production. Tech leaders including NVIDIA CEO Jensen Huang and AMD's leader Lisa Su are scheduled to deliver keynote speeches on January 5th (Beijing Time, from late Monday night to Tuesday morning). Asian tech forces like Alibaba, Lenovo, Samsung Electronics, and LG will also have a strong presence in Las Vegas. The first "18A" chip, crucial to the fate of Intel's foundry business, is also expected to be revealed at that time. Specifically, Jensen Huang will deliver his keynote speech from 16:00–17:30 EST on January 5th, followed by an Intel launch event from 18:00–19:00 EST, and Lisa Su will speak from 21:30-22:45 EST the same day.

This year's exhibition will particularly focus on AI hardware, including wearable devices like smart glasses. Meta, Snap, and Apple will participate in related showcases, potentially demonstrating the latest software and application progress even if new hardware isn't launched. Furthermore, CES will also display various AI humanoid robots, some designed for home use, but more targeting enterprise applications in manufacturing, logistics, and food service.

Maduro may appear in US Federal Court in New York on the 5th.

According to reports, Venezuelan President Nicolás Maduro could appear in US Federal Court in Manhattan, New York, as early as January 5th. However, this timing is still subject to change. It was learned on January 3rd local time that a plane carrying Venezuelan President Maduro had arrived in New York, USA. In the early hours of January 3rd local time, sudden explosions were heard and air raid sirens sounded in Caracas, the capital of Venezuela. Subsequently, former US President Donald Trump announced that US forces had successfully struck Venezuela, captured President Maduro and his wife, and removed them from the country. Trump also stated that the Maduros had been taken aboard the US Navy amphibious assault ship "USS Iwo Jima" and were en route to New York, where they would face US judicial proceedings. Trump mentioned he watched the US special forces operation to capture Maduro in real-time, describing it like watching a "TV show" and seeing "every detail." Trump also told US media that the US would deeply介入 Venezuela's oil industry. Media reports citing two informed sources indicate that the US Department of Justice is expected to bring new charges against Maduro and his wife in New York and submit a supplemental indictment. Maduro was previously indicted in New York in 2020. These cases allege a decades-long conspiracy where Maduro and his senior aides provided political and military protection to drug terrorists while embezzling billions of dollars from the state.

Zelenskyy announces new round of Ukraine-US talks on the 6th.

According to reports, on January 3rd, Ukrainian President Volodymyr Zelenskyy stated that he would hold talks with the team of former US President Donald Trump in Paris, France, on January 6th. Zelenskyy indicated that his visit to Paris has a key mission: to finalize the details of security guarantee documents for Ukraine within the framework of a coalition of the willing and to sign a joint statement. This statement would subsequently be submitted to respective national parliaments for approval. Additionally, he stated he would hold talks with US representatives, with the level of US participation to be formally announced by the White House.

The Bloomberg Commodity Index (BCOM) will undergo its annual weight rebalancing from January 8th to 14th, 2026.

A foreseeable, rules-driven "technical storm" is approaching, centered on the recently strong performers gold and silver. J.P. Morgan warns that due to outperforming the market for three consecutive years, the weights of gold and silver in the Bloomberg Commodity Index (BCOM) are severely above their targets. During the index rebalancing in January 2026, passive funds will be forced to conduct "technical selling." The estimated futures selling volume is projected to account for 9% and 3% of the total open interest for silver and gold, respectively.

KNOWLEDGE ATLAS Hong Kong IPO, shares expected to start trading on January 8th.

The "first large model stock" KNOWLEDGE ATLAS: Hong Kong IPO priced at HK$116.2, plans to issue over 37 million shares, with an issue price of HK$116.20 per share. Shares are expected to start trading on January 8th.

MiniMax Hong Kong IPO, shares expected to be priced on January 7th and start trading on January 9th.

MiniMax Group applied for a Hong Kong IPO to issue 25.4 million shares, with a price guide of HK$151-HK$165 per share. According to Bloomberg calculations, the company could raise up to HK$4.19 billion. Shares are expected to be priced on January 7th and start trading on January 9th. Cornerstone investors include the Abu Dhabi Investment Authority, Alibaba, Aspex Master Fund, and Boyu Capital.

Jingfeng Medical Hong Kong IPO, shares expected to start trading on January 8th.

Surgical robot manufacturer Jingfeng Medical seeks to raise HK$1.2 billion through a Hong Kong IPO. It aims to issue 22.7 million shares at HK$43.24 per share. Shares are expected to start trading on January 8th.

Tianshu Zhixin Hong Kong IPO, shares expected to start trading on January 8th.

Shanghai Tianshu Zhixin Semiconductor Co., Ltd. seeks to raise HK$3.68 billion through a Hong Kong IPO. It aims to issue 25.4 million shares at HK$144.60 per share. Shares are expected to start trading on January 8th.

GigaDevice Hong Kong IPO, shares expected to be priced on January 9th and start trading on January 13th.

GigaDevice Semiconductor Inc. applied for a Hong Kong IPO. It seeks to issue 28.9 million shares, with the top end of the price guide at HK$162 per share. Shares are expected to be priced on January 9th and start trading on January 13th.

South Korean President Lee Jae-myung's first visit to China from January 4th to 7th.

According to reports, South Korean President Lee Jae-myung will make a state visit to China from January 4th to 7th, 2026. This will be Lee's first visit to China since assuming the presidency. Reports cited business community sources stating that over 200 South Korean entrepreneurs, including Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Choi Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, and LG Group Chairman Koo Kwang-mo, will form an economic delegation accompanying Lee. The South Korean side also announced Lee's itinerary in Shanghai. A spokesperson explained that 2026 marks the 150th anniversary of the birth of Korean independence activist Kim Gu (pen name Baekbeom) and the 100th anniversary of the establishment of the Provisional Government of the Republic of Korea's Shanghai site, events that will be commemorated in Shanghai to reflect on their historical significance.

Lenovo Group will jointly launch an enterprise-grade AI product with NVIDIA on January 6th.

According to reports, recently, Lenovo Group Chairman and CEO Yang Yuanqing held a discussion with NVIDIA founder and CEO Jensen Huang. Huang stated that AI is evolving from "generative AI" to "agentive AI," which possesses stronger problem-solving abilities and reasoning capabilities based on facts. Both Yang Yuanqing and Huang agreed that the core opportunity for future AI development lies in "hybrid artificial intelligence." It was reported that Lenovo Group will jointly launch a significant enterprise-grade AI product with NVIDIA at its Innovation Technology Conference on January 6th. Huang also expressed that there's "no reason why our cooperation couldn't grow fivefold in the next two years."

The State Council Information Office will hold a press conference on January 5th on the progress and achievements of the Yangtze River Economic Belt's development over the past decade.

The State Council Information Office will hold a press conference at 10:00 AM on Monday, January 5th, 2026. Officials including Vice Chairman Wang Changlin of the National Development and Reform Commission, and responsible persons from the Ministry of Ecology and Environment, Ministry of Transport, Ministry of Water Resources, and Ministry of Agriculture and Rural Affairs will introduce the progress and achievements in the development of the Yangtze River Economic Belt over the past decade and answer questions.

The State Council Information Office will hold a press conference on January 6th on promoting green consumption.

The State Council Information Office will hold a press conference at 3:00 PM on Tuesday, January 6th, 2026. Officials including Vice Minister Sheng Qiuping of the Ministry of Commerce, and responsible persons from the Ministry of Ecology and Environment, Ministry of Agriculture and Rural Affairs, and State Administration for Market Regulation will introduce the situation regarding promoting green consumption and answer questions.

The 2026 childcare subsidy application will fully open starting January 5th.

According to reports, as of now, all 31 provincial-level regions in China have distributed childcare subsidies, covering over 24 million people, with the distribution rate for the 2025 subsidy reaching about 80%. According to the work schedule, the application for the 2026 childcare subsidy is about to open. The childcare subsidy information management system will undergo upgrades and testing from January 1st to 4th, 2026, with full application opening commencing on January 5th.

AliExpress疑似向亚马逊发出挑战：1月7日，杭州见。

On December 23rd, Alibaba's AliExpress released a poster with a "boxing match" theme, bearing the text "January 7th, see you in Hangzhou." Industry insiders suggested that the red and black boxing gloves in the poster correspond to the brand colors of AliExpress and Amazon, respectively, indicating a public challenge from AliExpress to Amazon. It was learned from multiple merchants that AliExpress will hold a brand overseas expansion conference in Hangzhou on January 7th, 2026, primarily inviting large merchants stocking goods overseas. Not long ago, Amazon's annual merchant conference was also held in Hangzhou.

Eurogroup: Eurozone member states must submit candidate lists for the ECB Vice President by January 9th.

The Eurogroup stated that eurozone member states must submit their candidate lists for the European Central Bank Vice President by January 9th. Eurozone finance ministers will make a decision at their meeting on January 19th.

AMEC: Plans to issue shares and pay cash to acquire 64.69% equity in Hangzhou Zhonggui, stock to resume trading on January 5th.

AMEC announced its intention to acquire a combined 64.69% equity stake in Hangzhou Zhonggui from 41 transaction counterparties by issuing shares and paying cash. Simultaneously, the listed company plans to issue shares to raise matching funds from no more than 35 specific investors. The target company's main business involves the R&D, production, and sales of chemical mechanical planarization (CMP) equipment, which is core wet process equipment, and provides overall CMP equipment solutions to customers. It is one of the few domestic enterprises mastering the core technology for 12-inch high-end CMP equipment and achieving mass production. Through this transaction, the listed company will become a provider with capabilities across the four key front-end processes: "etching + thin-film deposition + metrology/inspection + wet process," successfully achieving a critical leap from "dry process" to an integrated "dry + wet process" solution. The company's stock will resume trading at the market open on January 5th, 2026. Earnings Reports

Thursday, January 8th: Fast Retailing, Aeon, RPM International, Jefferies Financial Group. Friday, January 9th: Yaskawa Electric.